• JorDonna Cole

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Blue Skies Ahead

I seem to have taken a four month sabbatical from my blog. This certainly hasn’t been intentional. My weekly schedule has just gotten packed solid with teaching school, wrestling practices, Awanas, Cub Scouts, hosting and attending webinars each week, helping run our design firm, and trading options every day. All of this leaves me quite drained. By the time the weekend rolls around, I just want to chill out and sleep in. The hectic pace of my day to day life definitely took it’s toll on me and I ended up sleep deprived with a bad cough which kept everybody in the family awake. I finally went to the doctor and learned that I was dealing with a chronic sinus infection. It and took me another two months to finally get rid of it and get back to normal.

Well, enough of that stuff. The real reason you are reading this blog is because you want to know how my trading journey has been going and to glean some inspiration which will help you on your own trading path. I fully intend to deliver on both… Continue reading


I have made an attempt to write this blog post a couple of times now. However, I just never made it very far until now. My days are jammed pack and it’s been hard to keep up with everything. My Forex trading has taken the biggest hit as I frequently opt to sleep instead of attending the live trading sessions at 2 am CST. The currency market, like the U.S Stock Markets, has been insane to trade these past couple of months. Continue reading

Back to School

Now that summer vacations are officially coming to an end, we can expect the professional traders and fund managers to return to work. This means the volume in the market will grow and hopefully the playing field should become clearer… it should become evident whether the bears or bulls are in charge of the market.

The last few weeks have been quite successful for me as I have been paper trading new strategies in both my options and currency accounts. I officially began trading a few new options strategies in my live account last week and they have proven to be profitable. I’ve also spent the last two weeks hosting a webinar with one of my trading groups on Thursday mornings when the market opens. We have been analyzing the Continue reading

Keep Your Shirt On!

It’s August. Temps are topping 100º for the second week in Oklahoma. School starts Wednesday, and I would like the bull rally to continue. If you look at the Dow, S&P, and Nasdaq you can see they were each hitting some resistance last week. This coming week they may break through the resistance, they may continue to go sideways fighting the resistance, or they may get beat by the resistance and head south. (How is that for being exact in my prediction of the direction?)

No matter which direction the markets head this week, unless we experience a significant increase in volume, there is no true conviction in the overall direction. (In other words, you can’t assume the trend is “real”.) Continue reading

Summer Vacation

So far, this has proved to be quite the summer for me and my trading world. It has been full of volatility, including quick price movements that last less than a day. Last summer, traders enjoyed the strong bull market which was not a typical summer at all. Usually volume tends to decrease during these hot months as the professional traders take long vacations. Hence the saying “Sell in May and go away.” Continue reading

Possibilities – The Elliot Wave

I last told you that my accounts have pretty much been decimated in this market that keeps flip flopping for such short periods of time. All I can do is execute repair strategies on some of the trades that I am upside down in. I successfully exited 1 repair trade with about $80 of profit, not including all of my commission costs. A third attempt to gain more ground on repairing another of my trades with a bearish play didn’t go so well. That stock just soared this past week. So I reversed it to a bullish play and I am down another 80¢ per contract. There is another trade which I finally switched from bullish to bearish less than two weeks ago. Had I just left it alone, I could have closed it with a profit on Friday after last week’s great run up. Instead I am still down 45¢ per contract. On the up side, I did exit another bullish trade with a profit last week that was NOT a repair strategy. Continue reading

Take a Deep Breath

Last week my husband headed over to Arkansas to help Walmart with their 3D Visual Design Integration team. He will be one of a handful of designers who will help define the in-store experience for shoppers at Walmart and their other related chains. Although Larry has been primarily a graphic designer, he is well known in the mass-retail arena for his problem solving skills. This contract brings great relief to me and means that I can once again trade for the joy of it.

If you follow this blog, you know that I love to trade. However, this year has been rough. Trading became our only source of income last year when our graphic design firm’s clientele tightened up their budgets and cut our services. It was scary, but I did manage to generate enough profit each month to cover our expenses up until January of this year. That is when a brutal turn of events took place… I was stretched thin with a lot of open positions when a market reversal hit. It seems like I have been repeating the exact same scenario over and over all year. I will be in a series of solid trades, on the right side of the market movement, each within 1 day of closing the position with profit, then the market reverses. Then, as if that weren’t bad enough, I will reverse my position so I can regain profits, only to have the market flip back over to the direction it was originally headed in!

I keep telling myself that the market isn’t out to get me, but some days it sure feels like it doesn’t like me.

In May, my account was full of bullish positions. Although the market had been overbought for months, it just continued to climb higher. I knew a pullback was coming at some point and when it finally did show up, I was in pretty good shape… for the first two weeks. Then the market continued to drop throughout expiration week and I had to buy back all of those bullish positions. This maneuver shot my account all to pieces. At this point I haven’t even attempted to repair those positions because I no longer have enough cash in my account to go back in and fix them all.

So here I am, just sitting out until I can see which direction the market is heading. My account is just too fragile to risk any more losses. These past few months I have been trading lighter, but I still had the pressure of our family’s financial obligations which needed to be met by pulling profits out of the market. It has been a real struggle and one that has left me virtually numb. Recently I had four positions which I had to buy back. The total impact on my account was a enough money to have covered our family bills for 3 months. I am basically at the point where I cannot lose any more of my capital, and I cannot afford to take any money away from my capital to pay the bills or I will not be able to dig out of this hole. No pressure, right?

Needless to say, this is not a good situation to be in. I find it hard to believe that anyone can trade like this and not have their emotions step in and screw up their trades. So my husband and I are extremely thankful for this contract with Walmart. It has been in the works for several weeks, and finally started last Tuesday.

I am simply amazed at the recent turn of events in our trading account. Two extremely bad months of trading, coupled with the need to pull money out of the account to cover our living expenses and taxes for last year, has decimated my trading account. We knew we were pushing our luck. Living exclusively off of our trading income while our account was still rather small was not the best plan, but we didn’t have another choice. So now that we have established another revenue string for awhile, I will cautiously repair my account and continue to grow it. That said, I also plan to start funneling more funds towards my Forex account since my success continues to compound in that area.

Just think, if you have a $2,000 account that you are day trading in, whether it be currencies, index futures, or commodity futures, and you make just 2% a day, each trading day, you will have a million dollar account in just over 13 months. That is the target for my Forex account. And once I achieve it, I intend to grow my options account up to the point where I can comfortably live on it again. However, this time I intend to have an account that is large enough to weather the rough trading times.

To end this post on a positive note, I would like to say that I did manage to increase my options trading account by 2.1% last week too!